Question 1

A perceptual map enables a manager to see how __________ perceive competing products or brands, as well as the firm's own product or brand.

Accepted Answer

A)  stakeholders
B)  competitors
C)  independent rating organizations such as Consumer Reports
D)  consumers
E)  the CEO of the firmF) C) and E)
G) B) and C)

Question 2

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Accepted Answer

A)  develop and produce another version of the product.
B)  manufacture products that appeal to different markets.
C)  develop separate promotional campaigns.
D)  purchase another firm that has additional products that would appeal to multiple markets.
E)  issue stock to fund additional research and development for new products.F) C) and E)
G) B) and C)

Question 3

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Accepted Answer

A)  group potential buyers into segments.
B)  group products to be sold into categories.
C)  develop a market-product grid and estimate size of the overall market.
D)  select target markets.
E)  take marketing actions to reach target markets.F) C) and D)
G) A) and B)

Question 4

To effectively position a product or brand, companies take four steps: (1)  identify the important attributes for the product or brand class; (2)  __________; (3)  discover where the company's product or brand is on these attributes in the minds of potential customers; and (4)  reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  decide whether to keep or delete the market segment that your product offering targets
B)  identify the competitors' brands that make up the consideration set
C)  identify market niches that were not selected during the market segmentation process
D)  discover how target customers rate competing products or brands with respect to these attributes
E)  create a marketing plan based on customers' perceptionsF) D) and E)
G) A) and B)

Question 5

Nike employs a __________ strategy at its website, nikeid.com, which allows customers to design a sneaker to their own personal specifications.

Accepted Answer

A)  product sampling
B)  product clustering
C)  mass customization
D)  usage segmentation
E)  psychographic segmentationF) A) and D)
G) C) and D)

Question 6

Marketing synergies often come at the expense of product synergies because

Accepted Answer

A)  product synergies are more effective for penetrating a market rather than creating one.
B)  multiple market segments usually require multiple products.
C)  it is easier to change a product than to completely develop a new marketing plan.
D)  a single customer segment will likely require a variety of products.
E)  no company can afford to do both at the same time.F) B) and E)
G) A) and E)

Question 7

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a

Accepted Answer

A)  perception matrix.
B)  growth-share matrix.
C)  market-product grid.
D)  perceptual map.
E)  product differentiation chart.F) A) and E)
G) A) and B)

Question 8

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Accepted Answer

A)  a low-priced product to a high-income or high net worth segment.
B)  a high-priced product to a low-income or low net worth segment.
C)  different variations of the same basic offering to high-end and low-end segments.
D)  a high-priced and a low-priced offering to a single market segment.
E)  different offerings to high-end and low-end segments.F) None of the above
G) B) and E)

Question 9

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

Accepted Answer

A)  supplier segmentation
B)  demand segmentation
C)  regional segmentation
D)  psychographic segmentation
E)  product segmentationF) A) and C)
G) A) and B)

Question 10

Two key types of synergies are

Accepted Answer

A)  supplier and distributor synergies.
B)  marketing and product synergies.
C)  industry-dominated and consumer-dominated.
D)  product and production synergies.
E)  consumer and market synergies.F) A) and B)
G) B) and D)

Question 11

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own Loft outlets that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as

Accepted Answer

A)  amortization.
B)  guerrilla marketing.
C)  shrinkage.
D)  marketing Darwinism.
E)  cannibalization.F) C) and D)
G) B) and C)

Question 12

Doris Lewis owns Lewis Edibles, Inc., a company that makes Tongue Tinglin' BBQ Sauce. She wants to target local people who like the special blend of flavors found only in North Carolina barbecue sauce. In developing a marketing strategy to sell the sauce, Lewis decided to join Goodness Grows in North Carolina, a specialty food association that advertises local products and distributes them to local supermarkets and gourmet shops. Lewis has just

Accepted Answer

A)  formed a market segment using critical product features.
B)  formed products to be sold into groups.
C)  developed a market-product grid and estimating size of markets.
D)  taken a marketing action to reach a target market segment.
E)  formed prospective buyers into segments.F) A) and D)
G) B) and E)

Question 13

Explain what a market-product grid is and how it is used.

Accepted Answer

A market-product grid is a framework to ...

Question 14

Evergreen Air Center in Marana, Arizona, is the world's biggest parking lot for unwanted commercial aircraft. Airlines pay from $750 to $5,000 a month for its storage service. The warm, dry air where the operation is located serves as a cheap and effective airplane preservative. Which segmentation variable might Evergreen use to segment the market?

Accepted Answer

A)  NAICS sector, such as manufacturers, or retailers, or lawyers
B)  number of locations
C)  who buys, such as individual buyer or buying groups
D)  metropolitan statistical area
E)  number of employeesF) A) and C)
G) B) and E)

Question 15

College dorm residents frequently want to keep and prepare their own food and snacks to save money or have a late-night snack. However, their dorm rooms are often woefully short of space. MicroFridge marketers understand this and offer a combination microwave, refrigerator, and freezer targeted to these students. MicroFridge is most likely using which basis of segmentation?

Accepted Answer

A)  sociocultural segmentation
B)  psychographic segmentation
C)  geographic segmentation
D)  behavioral segmentation
E)  socioeconomic segmentationF) None of the above
G) A) and B)

Question 16

Segmentation based on what product features are important to different customers is known as

Accepted Answer

A)  demographic segmentation.
B)  behavioral segmentation.
C)  psychographic segmentation.
D)  geographic segmentation.
E)  socioeconomic segmentation.F) A) and E)
G) A) and C)

Exam 9: Market Segmentation Targeting and Positioning

Segmentation based on what product features are important to different customers is known as

Correct Answer
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One marketing action that can be taken to sell a single product or service to multiple market segments is to

Correct Answer
verified

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own Loft outlets that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as

Correct Answer
verified

Correct Answer
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Marketing synergies often come at the expense of product synergies because

Correct Answer
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Two key types of synergies are

Correct Answer
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Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Correct Answer
verified

Correct Answer
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Correct Answer
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The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct Answer
verified

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

Correct Answer
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Nike employs a __________ strategy at its website, nikeid.com, which allows customers to design a sneaker to their own personal specifications.

Correct Answer
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Explain what a market-product grid is and how it is used.

Correct Answer
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A market-product grid is a framework to ...
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A perceptual map enables a manager to see how __________ perceive competing products or brands, as well as the firm's own product or brand.

Correct Answer
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A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a

Correct Answer
verified

Exam 9: Market Segmentation Targeting and Positioning

Segmentation based on what product features are important to different customers is known as

Correct AnswerverifiedShow Answer

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Correct AnswerverifiedShow Answer

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own Loft outlets that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Marketing synergies often come at the expense of product synergies because

Correct AnswerverifiedShow Answer

Two key types of synergies are

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Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct AnswerverifiedShow Answer

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

Correct AnswerverifiedShow Answer

Nike employs a __________ strategy at its website, nikeid.com, which allows customers to design a sneaker to their own personal specifications.

Correct AnswerverifiedShow Answer

Explain what a market-product grid is and how it is used.

Correct AnswerverifiedA market-product grid is a framework to ...View AnswerShow Answer

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A perceptual map enables a manager to see how __________ perceive competing products or brands, as well as the firm's own product or brand.

Correct AnswerverifiedShow Answer

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a

Correct AnswerverifiedShow Answer

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A market-product grid is a framework to ...
View Answer

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